We are continuing to talk with potential partners about Patch and there is no change in course or direction from what we have discussed as a team. Patch gets and will get a lot of media coverage, but we will keep you updated as we walk through the partner talks. The most important thing to focus on is the service we are providing to millions of local consumers and customers.

- Leigh & Bud

-- Leigh Zarelli Lewis SVP, COO | Patch - AOL [redacted]

Beyond its headline and lede, Carr's column gives an accurate look at what's going on at Patch.

Here is the situation in full, according to our reporting:

Back in May 2012, AOL CEO Tim Armstrong promised Patch would be profitable by 2014.

2014 is almost here, and Patch is not yet profitable.

AOL is talks with VCs and media companies about offloading Patch onto them in some fashion.

If those talks don't go well and further cuts don't bring Patch to profitability in the months ahead, it will probably get shut down.